MML Investors Services LLC Has $39.10 Million Holdings in Ameriprise Financial, Inc. $AMP

MML Investors Services LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,740 shares of the financial services provider’s stock after purchasing an additional 1,438 shares during the quarter. MML Investors Services LLC’s holdings in Ameriprise Financial were worth $39,100,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC grew its position in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC grew its position in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 634 shares during the period. Sivia Capital Partners LLC grew its position in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Ameriprise Financial during the second quarter worth $313,000. Finally, Gabelli Funds LLC grew its holdings in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMP shares. Morgan Stanley upped their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. BMO Capital Markets increased their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. Finally, Piper Sandler increased their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $543.22.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Ameriprise Financial Stock Up 0.1%

NYSE:AMP opened at $459.70 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $41.33 billion, a PE ratio of 11.43, a PEG ratio of 0.97 and a beta of 1.16. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The stock has a 50-day simple moving average of $457.54 and a 200 day simple moving average of $472.97.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $9.50 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $1.70 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is presently 16.91%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.